by Adam "STUDstood" Roberts

Danny Robison is now in his early 60s. He is a fixture in the $2000/$4000 limit Stud game at the Hustler Casino in Los Angeles. But in 1989, he had just returned from a self-imposed five-year hiatus from poker.

Although I had heard people talk about him while playing in the Rounders game in Manhattan and the $30/$60 limit Stud games in both Las Vegas and Los Angeles, I had never actually seen him play either as a spectator or an opponent. That happened in the summer of 1990 at the Bicycle Club in Los Angeles.

I have mentioned Danny in a number of past blogs, so I will not labor on his history any further. What I want to cover here is that everything I learned from Danny was picked up without his knowledge. Although Danny and I became friends and socialized together, we never discussed poker strategy.

Everything about poker that I learned from Danny I learned as I watched and studied his actions on the table. When you're fortunate enough to play with a true master of the game, it should always be looked at as an opportunity to learn. Even with all of the great teachers and mentors I have had through the years, I would say that I picked up more from Danny without him even knowing, than I did from people who intentionally taught me things.

Case in point... Early that summer, I still had not officially met Danny. I was at the Bicycle Club waiting to get into a $75/$150 game and sitting at an empty table reading a Card Player magazine.

At an adjacent empty table, Danny and another Stud player (who I later realized was also an excellent player) named Tony Latorre (now deceased) were discussing strategy.

Although I was trying to mind my own business, any of you who know these guys realize that they are LOUD, even when not trying to be. So, I could not help but overhear their conversation. They were discussing a certain 4th street strategy in Stud poker.

At first, I thought that they were joking. I say that because what they were saying made absolutely no sense to me. In fact, it seemed totally contradictory to what I would do in that same situation on 4th street (at that time in my career). Then I realized that they truly were serious, and I clearly recollect thinking that these guys were suckers.

But then I remembered that both these men were also considered great players, so I decided to not only listen, but try an experiment when I got back to my hotel room. I dealt out random cards for hours upon hours, over many days, to see if what they had been saying was correct, even though I had strong doubts. Of course not only were their concepts correct, but they were so advanced that I do not think many people to this day know about them or know how to correctly incorporate them.

What I am getting at here is that this same experience may very well happen to you, and you should be open to it when it does. Do not discount or underestimate the strategy and concepts of long-time winning players, even if those concepts seem wrong or foreign to you. Try them out; see if they are mathematically correct and if they might work for you.

Poker is an ongoing learning process; you should try different things out, to see if they fit with your personality, style of play, games you play, and your bankroll. (If a certain strategy is high risk/high reward, it may not be right for someone on a limited bankroll.)

With regards to learning from your peers, as the limits get higher, I think this might get tougher. I did it covertly with guys like Danny, Tony, Jack Weiss, Roy Whitaker, all players in that $75/$150 Stud game.

Very few people, especially the ones you compete against regularly, are willing to discuss strategy. But, there may be some who will. In my case, those guys were Ted Forrest, Bruce Migdal and Fast Eddie (who I knew from Brooklyn). Ted and I would have these long conversations about many different types of poker strategy. Listening to us would be funny because our views were so different on just about everything. Yet, we made them work for us.

Again, my point here is that keep an open mind, seek out as much information as possible in whatever venues you can find it. Then, don't be afraid to try things out. Even if you fail, you should learn from the experience.

If you have the ability and good habits, many things will work out for you and your game will improve.

In the meantime, you can find me in the $10/$20 and $30/$60 limit games in our Stud section, as well as in our weekly $215 buy-in tournaments. Please check the starting times of each of those events for your geographic area under Tourney > Special in the PokerStars lobby.

Feel free to contact me with any questions, suggestions or thoughts at adamr@pokerstars.com. See you at the tables!

by Adam "STUDstood" Roberts

In my recent blogs I have been trying to give you some sense of the various ways to help improve your game. Those include figuring out from what sources to learn, i.e. books, videos, television shows, teachers (both knowingly and otherwise), your own live and online playing experiences, etc. This also includes how to develop your own style based on your own personality (both on and off the tables), affinity and ability in different games and limits, and bankroll.

In last week's column, I gave you an encapsulization of my own poker history, and how I accomplished these tasks. I would like to continue this week.

To recap, I had begun playing in the $10/$20 Rounders Stud game in Manhattan in 1989. Although I started out as a small winning player, because various good players took the time out to teach me how to improve my game I quickly added to my hourly earn, enough that I was considering trying to play Stud poker for a living.

To do that, I knew that I would have to further improve my game, to enable me to win enough to make a living playing higher limits. So, I took my first trip to Las Vegas in late 1989; the Mirage poker room had just opened and there was a large selection of games to play. In those days, Stud was the clear poker game of choice at every limit. In the 10 days which I was there, I played in 27 sessions of $30/$60 limit, and won in 26 of them.

Although the money was certainly useful, more important to me was finding out that there were various different styles of play than what I was used to back in my Rounders game. I attributed that somewhat to the accelerated ante structure, i.e. $5 in $30/$60, which is a 12:1 ratio (big bet:ante), as opposed to $1 in $10/$20, which is a 20:1 ratio. But I also found a different "personality" among the people who lived and gambled in Las Vegas, whether it was for a living or just recreation. In general, the New York City style was more conservative, whereas in Las Vegas there was more of a gambling "get the last bet in" style. This was an important enlightenment for me, because it made me adjust my own play to the games in both of those geographic areas, as well as to the different ante structures.

It's important to account for these factors when you sit down to play. The ante:big bet ratio is your first clue as to the style that will likely be played in a game. For example, later on during the '90s there were times I played $40/$80 limit with a $5 ante, and other times it was spread with a $10 ante. That was a huge disparity, and the real, implied and pot odds value of each hand is affected by that difference in ante structure.

Mathematically alone (as well as the difference in your opponents play), your strategy must be changed to adjust to the structure; the higher the antes, the more hands you should play, as the pot sizes are larger. You also should attempt more "ante steals", since the payoff is higher. I first became aware of this important concept on this trip.
Getting back to that initial trip to Las Vegas, fortunately for me a couple of things happened.

First, I found that the great foundation my Rounders mentors had given me enabled me to be one of the better players in the $30/$60 games right away. Although one would think that because it was "Las Vegas" the games would be tougher, especially at a higher limit than I was used to, I actually found it quite the opposite. It's true that the top players in Las Vegas were better than the top ones in New York, but the worse players in Vegas played a lot poorer, and this applied even as the limits increased. The fundamental education I had received served me well.

I also found that my own innate style of play (based on my personality on and off the table) fit better in Las Vegas (and subsequently Los Angeles) than in the New York/New Jersey/Connecticut style.

My next test was going back to my Manhattan Rounders game, apply my new skills and style of play and see how that affected my results. Would my experience from the West Coast help me back East?

What I found was that my earn increased approximately 33%. This was great news for me, because I felt that I was on the right track to achieve my goals. Having varied experiences, and learning from the players in different games, was paying off.

My next trip to Las Vegas was in mid-1990. Again, I had great results playing $30/$60 stud.

Since my ultimate goal was to live in Los Angeles, which was quickly becoming the poker capital of the world, I decided to drive there and see how those games played out for me. At the Bicycle Club casino, I played $30/$60 stud for a few days, and won every session. I found the Los Angeles and Las Vegas style of play similar, which may have simply been because many of the same players from both cities competed in both games.

After winning consistently in all my $30/$60 limit sessions, I decided to try the $75/$150 limit Stud games. Boy, was I in for an awakening.

The $75/$150 games was played with even more "gamble" to it, which also may have had to do with the $15 ante, which was a 10:1 ratio, the highest I had ever played in. I also found that the higher the limit, the less regard people seemed to have for money. Or, more accurately, they attempted to put more "money pressure" on me. The tactics employed at this limit were completely different than what I was used to.

I played three sessions at $75/$150, and lost all three. That was very bad, because the $15k I lost in those three sessions wiped out my whole earn for three previous weeks in the $30/$60 games.

The silver lining was that I witnessed things that would change my perspective in poker forever.

In 1975, Jon Landau wrote in a concert review "I have seen the future of rock and roll and his name is Bruce Springsteen." Well, in only three sessions playing $75/$150 stud poker at the Bicycle Club casino in the summer of 1990, I saw the future of my stud poker playing career. His name was Danny Robison.

More next week...

In the meantime, you can find me in the $10/$20 and $30/$60 limit games in our Stud section, as well as in our weekly $215 buy-in tournaments. Please check the starting times of each of those events for your geographic area under Tourney > Special in the PokerStars lobby.

Feel free to contact me with any questions, suggestions or thoughts at adamr@pokerstars.com. See you at the tables!

by Adam "STUDstood" Roberts

I would like to discuss the best ways to hone your game, to become a better poker player. But first, this week I'd like to fill you in a little on my own history, to give the discussion some context.

I think my poker career started out like many others, as a teenager getting together with other guys my age with a few pennies in our pockets and some time to kill. Growing up in Brooklyn didn't hurt -- my geographic area featured two great cultural pastimes, athletics and gambling. (Sometimes they were combined, LOL...)

At that age, I really had nowhere to turn for proper guidance. My parents neither played poker nor condoned my playing it, so I kind of had to "fly by the seat of my pants."

In those days, I was also an athlete and musician. Those were both time-consuming passions, which combined with academic responsibilities and trying to have a social life really left me with no time to have a regular job, like most of my other friends. Plus, my parents were poor and frugal.

So, early on I was relying on my gambling earnings to give me some spending money. In those days I did not only play poker. I hustled gin rummy and basketball, as well as betting small on sports and horses. In fact, I was not a very good poker player during that time.

As many of you can relate to, our poker games consisted of every type of game we could dream up, typical Friday night home game stuff with wild cards, spits, buys, etc. Even if I wanted to put in the time and effort to learn these games correctly, there was no information available to me on the strategy of "non-casino" games, and I don't think there is now, either. Most of those types of games have a much higher luck factor than standard casino games, making it even harder to figure them out mathematically.

What actually helped me most was that many of the players who I played against, who also were close to my age, were very smart guys, and to this day I feel that many of them could have become professional poker players had they chosen to. Instead, they all ended up other types of professionals, like doctors, lawyers, law enforcers, businessmen.

Back then, there were lots of discussions of how to correctly play hands, or at least what we thought was correct. This happened because of ego, even at our young ages. We all were looking to earn money, but our egos usurped that by making us try to prove to each other what strategy was correct.

Being that all these games were "board games", this didn't do much for me once I began playing in casino-sanctioned games, which were mostly Stud games at that time. But it was a good education in poker concepts.

By my mid-twenties, I still was not a good poker player, but I then began playing in a home game where many of the players were older and dealt "real poker," i.e., Stud, Stud Hi/Lo, Hold'em, Omaha, etc. It was at that point I realized that I had an innate feel for Stud and all its variants, but not the flop games.

Mind you, I still did not have any qualified teachers or mentors at this point. I just "knew" that stud poker was "my game," based on how much I liked its concepts, as well as feeling that I already understood the game fairly well as a beginner. And, I was winning.
I then got invited to the Rounders game in Manhattan. That was a $10/$20 limit Stud High game in which two tables got underway at 11 AM, six days per week, and usually lasted until midnight. At that point in my career, I was a small winning player.

But, it was that Rounders game which changed my life. As I mentioned in my last blog, some of the regulars at that game were not only good low- and mid-limit Stud players, but were also excellent teachers who saw my ability and felt that I had the potential to be "the next one" of a long line of excellent Stud players to come from New York City. I did not seek these men out. They voluntarily took me under their wings.

Four of their names stick out. Rudy Drautz (deceased), Abie "Wheels" Lichtenstein (deceased), Mike Green and Neil Enfield. Each of them used to ride with me to and from our apartments in Brooklyn and educate me. They also used to take me in the back room to discuss hand strategy during a session. With their tutoring, my earn went up drastically. This went on for one year.

I was grinding out a weekly earn at this limit, but knew that something was still missing. I wasn't sure what that "something" was though. I soon found out what that was, when I took my first trip to Las Vegas and Los Angeles to play poker in the casinos in those cities. I found that those games were played much "faster", and with more verve and panache, than what I was used to back in Manhattan. This actually better suited my innate style and feel for the game, but I also realized that the basics that my Rounders mentors had taught me applied in all limits and styles of play.

I just had to now figure out how to incorporate my own personality, along with these concepts, to become successful in this new (more volatile and exciting) style of play. We will continue this discussion next week.

In the meantime, you can find me in the $10/$20 and $30/$60 limit games in our Stud section, as well as in our weekend $215 buy-in tournaments for Stud games. Please check the starting times of each of those events under Tourney > Special in the PokerStars lobby.

Feel free to contact me with any questions, suggestions or thoughts at adamr@pokerstars.com. See you at the tables!

by Adam "STUDstood" Roberts

In today's blog, I will cover how to gather as much quality information as possible to enable you to become the best poker player you can be.

Note that I specifically said "quality information," as opposed to the quantity of information.

As poker has grown, there have been more and more books, videos, and seminars, as well as group and individual lessons, made available. Although it is nice to have so many options, this could be counterproductive to your needs. That's because not all of this information is of equal value, and at some point you will have to pick and choose which concepts work, and work best for you, in what game. It will be your job to sift through all of this information and weed out the irrelevant or useless material.

Although most of the media these days is mainly focused on Hold'em and all its variations (limit, pot limit, no limit, tournaments), there is still lots of information out there if you prefer learning other games.

I have been giving Stud poker lessons for many years, teaching beginners and advanced professionals. Many of my students have told me that the advanced play techniques that I've taught them were never discussed in any book, video or teaching course which they had taken. When I mathematically proved these plays, they were flabbergasted, and could not wait to incorporate them into their arsenals. I am not too sure if these "advanced concepts" are covered by anyone, anywhere. These are generally the concepts that may be able to "put you over the top," information which very few players know about, and even if they do, may not incorporate them properly.

Knowledge of a poker concept is not enough - you also need to know how to apply it, how to recognize the right time to apply it, and have the heart to "pull the trigger." Although this applies to any concept in poker, even the basics, I have found that the more advanced ones have a lot more probability for error and failure.

When you play a basic strategy situation "by the book," like playing Aces against Kings, when you lose it does not look like you are a sucker - you just took a bad beat. But many times with sophisticated plays, you will look foolish if it does not work. That is because most players, even the better ones, do not understand many of these plays. You have to be able to accept the incorrect "judgment" of your peers, when this happens. Not everyone can handle this; part of the reason they play is to earn the respect of their peers.

A few years ago, one of my students wanted to pay me to write a book on many of my stud poker concepts. Before deciding on whether to accept this offer, I spoke with some of my peers in the industry, who offered to pay me more NOT to write that book. They did that because the concepts I would have written about would have educated too many players in strategy that is just not available today.

How can you gain this knowledge? It won't be easy. You may be able to find a mentor or teacher to help you, but most likely you will have to do research on your own to pick and choose what concepts to incorporate, and piece it all together yourself. In this business, no one is giving out all of their "secrets." Poker tends to be a rather "cutthroat" business, so you will mostly have to find your way on your own.

How can you do that?

First, you have to learn the basics. Although some books and other media may be helpful and useful, I have found many of them to be inaccurate and even mathematically incorrect. (This can actually work to your advantage, since the players who are reading these books are actually learning the games incorrectly.) That doesn't mean that you shouldn't read, but you will then need to figure out which of the concepts you learn works, and will work well for you.

I got very lucky when I was a budding professional. I had some great teachers and mentors who asked nothing of me except to listen to them. For the most part, these were guys from the "Rounders" game, which was accurately depicted in the movie from 1998.

They were "old timers" who really understood the right way to play low- and mid-limit poker. They saw I had ability and affinity for the game, and that I was a "stand up" guy. They took me under their wings and taught me everything they knew, despite having to compete against me every day in that game, which was $10/$20 and $15/$30 limit Stud. Their theories were impeccable, as were their teaching techniques.

Unfortunately for them, they neither had the heart or bankroll to allow them to beat any game higher than $30/$60. But because of their giving me so much of their knowledge, plus my own innate ability, I was able to usurp them as the best players in this Rounders game rather quickly, within six months.

Since I did have "heart" and did not have some of their bad spending habits or general responsibilities (like supporting a family - I was a college student), I was able to move up to the $30/$60 limit rather quickly.

But as I moved up, I noticed that while the bad players were just as bad, the better players were much more skilled as the limits increased. The "style" of the game changed too; for starters, the aggressiveness was much higher, which was somewhat based on the higher ante ratio, as well as ego of the players.

I soon realized that every winner at the higher limit knew everything that I knew and much more. I knew that I needed new information, and had to find a way to get it.

We will cover that in my next blog.

In the meantime, you can find me in the $10/$20 and $30/$60 limit games in our Stud section, as well as in our weekend $215 buy-in tournaments for Stud games. Please check the starting times of each of those events under Tourney > Special in the PokerStars lobby.

Feel free to contact me with any questions, suggestions or thoughts at adamr@pokerstars.com.
See you at the tables!

Feel free to contact me with any questions, suggestions or thoughts at adamr@pokerstars.com. See you at the tables!

by Adam "STUDstood" Roberts

This week I want to continue on the topic of staking, but discuss where it is done as a package deal, which includes personal expenses, as opposed to where it is only in a "game-by-game" arrangement. Although this type of staking deal is usually only secured by poker players who are already well known and proven to be honest and hard working, it should be all poker players' goal, since for the player it is virtually risk-free.

Getting fully staked usually works this way:

The bankroll (BR) is used for both playing poker in agreed-upon types of games and limits, as well as for personal expenses. The player's expenses are considered a "draw" against his/her poker earn, and there usually is a maximum "cap" on how much will be covered.

For instance, one of the deals I have had is where I was given a $60K BR to compete in a $100/$200 Stud game in a live casino. That is the lowest amount of BR I felt was necessary to play that limit. I was allowed to draw $1,200 per week against that BR for personal expenses, whether I won or lost. That way, if I broke even for the year, all my living expenses were still paid for. But the arrangement was that expenses drawn had to be paid back from my profits before I was allowed to take any winnings for myself.

Actually that is just the theory. In practice, my results typically varied too much to where it never worked out exactly that way.

What is much more likely to happen is that you will end up at one of the extremes, due to the normal BR fluctuations that happen during a year. On the negative end, you may go completely through that $60K, especially when using it concurrently for expenses, and you will be "out of business." Or, on the positive side, you will have earned enough to where you will make an agreed percentage split with your backer, while keeping your BR at a high enough level and continuing to pay your weekly expenses.

Depending on the limit of the game(s) you are competing in, the percentage split can be adjusted. While playing $100/$200, I worked for 50% of my total profit. When I was getting fully staked at $300/$600, I worked for 33%. In that case, my backer took a higher risk, so deserved a higher potential reward. In my opinion, it is hard to get this type of deal for lower limits (i.e. less than $60/$120 live or $30/$60 online) because the backer does not have enough of an upside.

An average year for me would be to earn one big bet per hour. That expected earn goes down for everyone, including top players, as the limits go past $100/$200 live (which translates into $50/$100 online) because the higher limit players are generally more skilled.

For instance, I used to make enough money playing $100/$200 Stud in live casinos to where I was able to pay back my weekly $1,200 expenses draw, then make enough for my backer and I to take further profits.

If I played 1,000 hours live in a $100/$200 Stud game, I would average $200K earnings per year. During that time period, I took out $60K for expenses. My backer got that $60K returned incrementally as our bankroll reached a certain amount, say $80K or $100K. We also split up profits at those junctures, maintaining the initial $60K BR for play and expenses.

So, at the end of the year-long arrangement, if I made $200K above expenses, my backer got his $60K returned, which left $140K profit. Both he and I took $70K for ourselves and the BR remained at $60K.

Income taxes is another issue that must be ironed out before proceeding with this or any other type of staking deal. I have had different backers in my poker career (but only one at a given time). One of my backers insisted that he remain "totally silent," where I was responsible for all of the taxes on profits I earned (even though he got some of them). Another backer of mine wanted to pay the full tax on his share, and asked for a signed statement from me stating exactly what I earned and what his share was. Whatever the arrangement, it should be agreed on in advance, and in writing.

So far, I have only been talking about winning. That will never be the case, at least not consistently.

When things were going bad for me in poker, I was still taking out $1,200 per week in expenses. Assuming I ran bad for three months, $15,600 was automatically gone from the BR, plus however much I may have lost playing poker.

The clause I had in my contract was that any time my BR dipped below $20K, my backer had the option to replenish it to $40K or to quit, and allow me to take the $20K for use as I see fit, with my backer no longer having a part of any future profits or losses. There were a number of times when my BR did drop below $20K and my backer had to make that decision. Since I was a proven winner, he decided to stick with me, which enabled me to eventually make up the "red figure" (sometimes called "make-up") that I had with him.

In fact, I remember a couple of years where I earned less than $100K. In those cases, I still was able to return the $60K expense money, but the profits were far less for both of us. Thankfully, there were also years I made more than $200K.

The bottom line here is that in addition to having already proven yourself as a hard working, honest, winning player, you will need to find a backer who truly understands these concepts, is patient with you, and does not micro-manage either your habits on or off the table, or your results on the table. I've been lucky in that my long-term backers have all been high limit, winning poker players. Because of that, they understood these concepts wholeheartedly (especially the downside), and I had good experiences working for them.

It is possible, though, to find appropriate staking from either losing poker players who have lots of money, or just investors who want to try and reap more than average returns on their money. My experience has been that most of these types of backers do not understand these concepts, and this can create friction.

Here's a funny (to me, anyway), true story.

Before moving to Los Angeles and Las Vegas to play professionally, I honed my game at a rounder's club in Manhattan. One of the players there was a businessman who sold guard rail. He was a losing poker player, but had lots of money and liked to stake people. I think he did it more as "power trip" as opposed to a way to make money.

In early 1994, he contacted me and asked to stake me in five tournaments in that year's WSOP. We worked out all the details (I will cover tournament staking and tournament play in general as these blogs progress), and he wired me the necessary money.

I played in the first four tournaments, and did not cash in any of them. My backer then called me and said that he was pulling out of our deal, and that I should not play in the fifth event as we had planned. I sent him back his remaining money and decided to play in one satellite to see if I could get an entry into the 5th tournament (which was the $5,000 Stud event) at the right price (I will elaborate on this concept in future blogs).

I won the satellite (which cost me only $660), and then came 2nd in the actual event, cashing out for $102,600 (after a deal). The moral of this story is that this backer lost confidence far too quickly, and "pulled the plug" too soon.

In any case, I recommend that all staking deals, this type or otherwise, be clearly outlined in writing. Lots of details should be covered; for example, neither side should be able to discharge any money owed in bankruptcy.

I hope this was informative to you. Feel free to contact me with any questions on this or any other topic we have covered in these blogs.

In the meantime, you can find me in the $10/$20 and $30/$60 limit games in our Stud section, as well as in our weekend $215 buy-in tournaments for Stud games. Please check the starting times of each of those events under Tourney > Special in the PokerStars lobby.

Feel free to contact me with any questions, suggestions or thoughts at adamr@pokerstars.com. See you at the tables!

by Adam "STUDstood" Roberts

This week, I want to continue the topic of staking.

Staking occurs both in cash games and tournaments. In both areas there should be strict guidelines followed to ensure that there is trust, as well as a fun and relaxed atmosphere for both people -- that's imperative. Game results may not pan out the way you anticipate, so there should be no hard feelings either way if that happens.

First, let's discuss cash ring games.

In this area, trust is most important, especially in live casinos, because there are no "official" records. At least in online cash games, a player can request per session records directly from the site, as well as hand histories, to back up his records. I like that idea, because there can be no discrepancies.

"Taking a piece" is also an option, and can often be better than full staking.
Before I got fully staked, I was playing $75/$150 Stud with my own bankroll. I noticed that there was a potentially more profitable daily $300/$600 half Stud, half Stud Hi/Lo game, which I wanted to play in. However, I neither had the adequate bankroll, nor had yet developed enough of a reputation as a winning, trustworthy player, so I did not have anyone to ask for full staking. I estimated that I would need $240,000 to play in this game. Although I was hoping to have gotten the full $240K up front, I soon realized that was not going to happen.

But there were people who were interested in taking a piece of my action at that limit. So, I put up 25%, $60K, which was the same amount as I would bankroll for playing $75/$150. I was able to raise the other 75%, $180K, from a handful of poker players who had competed against me in the $75/$150 games. I took my backers on their honor, and accepted $60K of that amount to get started, with a guarantee of the additional $120K if needed.

If I had lost at the start, and my backers did not keep their word, this would have meant that I would have actually put up 50% of the working bankroll, and $120K would have been too low an amount for me to have had a legitimate shot of winning at that limit. This scenario can happen whether you are being fully staked, or pieced out. That is why it is important to try and get backers who will keep their word, especially in the face of losing, which tends to make people lose confidence in your ability (and sometimes honesty).
Luckily, I was able to win right away, which assuaged my backers and gave me a reputation of being an honest, hard working poker player. This in turn enabled me to get full backing at a later date.

I would not be hesitant to ask people you trust to either take a piece of you, or fully stake you. If you are winning player, there are people, usually the poker players whom you're competed against, or sometimes people who do not play poker at all, who enjoy investing in other players. But I do not think you will be able to achieve this unless you have already proven yourself as a winning, hard working, and honest player. This will take time, but will usually happen at some point along the road.

This is one reason I like playing in the same game, limit and (if possible) time of day -- to get to know some of the other players. Some may end up wanting to back you in a higher limit game.

Continuing on the concept of "piecing out," if you are respected enough you may also be able to play for a bigger piece than you are putting up. For example, you invest 50%, and are only responsible for 40% of the losses, but get 60% of the profits.
I think it's important to make clear than you should not let your ego get involved in wanting to play in games higher than your own personal bankroll. Your investment in playing bigger games should still be within your means; the "risk of ruin" still goes up if you overextend yourself. While it may seem like a nice accolade to say that you are being "pieced out," I see no reason to do this unless you are considering playing in higher limit game which is potentially more profitable than the lower one which you are playing on your own. Don't let your ego push you into a bigger, less profitable game.
Again, I would come up with a game plan, decide what bankroll you feel is necessary, and try to secure as much of that amount up front from your backer(s). Only if you feel that you can trust your backers to come up with the remaining balance (if necessary) of their promised bankroll, would I play with the lower amount of money that they had already given to you.

I would also put all the terms and conditions of your deal with your backers in writing, and, if necessary notarize it. This contract should include a number of items, including:

The amount each of you are agreeing to invest and in what increments.

The type of game and limit you are going to play.

The percentage deal you are both agreeing to.

The minimum amount of hours you are going to play per week, month or year.

The money management guidelines you are going to adhere to.

The time frame or dollar amount of when you are going to split, if there is profit.

When you will be getting any additional stake money (if applicable or necessary).

Guidelines as to when you have to present your playing results to your backer.

Guidelines as to how involved your backer will be (watching you play, offering advice, etc.).

Consequences on both parties if the contract is breached. As a player, with a notarized contract which cannot be discharged with a bankruptcy, you may be able to take your backer to court if he/she does not fulfill his/her monetary obligations. As a backer, this can sometimes also be done.

If you are getting fully staked, as opposed to getting pieced out, what the working bankroll can be used for other than poker playing. (Expenses,for example.)

Getting fully staked should be your ultimate goal, and we will discuss that next week.
In the meantime, you can find me in the $10/$20 and $30/$60 limit games in our Stud section, as well as in our weekend $215 buy-in tournaments for Stud games. Please check the starting times of each of those events under Tourney > Special in the PokerStars lobby.

Feel free to contact me with any questions, suggestions or thoughts at adamr@pokerstars.com. See you at the tables!

by Adam "STUDstood" Roberts

Game preparation is another topic we generally do not see covered or discussed in poker literature, yet it is an integral part of your poker package. What can you do when not at the table, to be best prepared to play well on the table?

For starters, you should keep impeccable records of your play. I personally use an Excel spreadsheet. Your records should include the amount of hours you play; the date and time of day for each session; the limit and type of game you play; your per-game and overall session results (if playing in multiple games online). Keeping accurate records gives you an objective picture of your success (or lack thereof) at each game, and at each limit. You may be surprised at what you will learn about how certain situations affect your results. You can also assess your “money management” and “when I should have quit” decisions.

If you follow a money management guideline, there may be times when you get stubborn and do not adhere to it. Keep a chart on how you did in your session after not following those guidelines. You may find that a certain aspect of your game should be adjusted. For example, you may be shocked at how dramatically your results drop off after a certain number of hours. Having accurate information on this subject gives you a real picture of what’s happening.

These types of records should also be kept for tax purposes. This applies whether you are a winning or a losing player. Tax laws vary from country to country, as do accounting requirements. For the most part, the IRS trusts Americans to file accurately, and to keep accurate records. But they obviously do not react well to false reporting, which can lead to criminal charges. With a sport such as poker, the only times any formal records are reported to the IRS are when forms are issued if you cash in a tournament. If you do get lucky enough to have a big win, you may be able to deduct losses to offset that win, but you will need accurate records to justify those deductions. If you are a poker professional, or only using this sport to make extra income, I would recommend hiring a CPA familiar with gambling issues.

On an unrelated topic, I have met many people in my 20 years in poker who have become friends.

From 2001-2004, I took a break from all gaming activity, and many of these people remained friends, showing me that our relationships were not just out of convenience.

As we developed closer bonds, I found it harder to compete against them in poker, even though we understood that our results and strategy “at the tables” would have nothing to do with our “off the felt” relationship.

Although as adults and consummate professionals we were successful at achieving this, I admit that it was hard for me. It came to where I did not want to compete against my friends in poker, especially to bluff them. I am not saying to not become friendly with your opponents, I am just pointing out that it may be hard for you to “play hard” against them if you do. And if you are not playing hard against your opponents, you are not maximizing every situation, and that will reduce your earn.

Online poker somewhat alleviates this potential problem because there is no “visual” attached; you don’t have to see you opponents and “look them in the eye,” especially after a “tough beat” one of you gave the other. This is a problem that’s particularly problematic in poker, as opposed to other sports.
Professional athletes do develop friendships, even though they are competing against each other for a lot of money and prestige. The major difference with athletics, as opposed to poker, is that professional athletes (in most sports) are getting paid a lot of guaranteed salary regardless of their results. I can assure you that makes it a lot easier for them to compete hard against each other and not let it affect their friendship.

In poker, there is no salary. The money you are playing for directly goes from one player to another. Therefore, it is possible that players who genuinely like each other can let poker activity affect their relationship. That’s just human nature. Some successful players have that “killer instinct” no matter what – no matter who they are playing. They can be among the most dangerous players.

“Ego” also needs to be taken into account here. That, too, can negatively affect people’s feelings towards each other in the poker world. Although you and your compadre may try to avoid playing in the same, often that’s not possible because of the limited times and days your favorite games are being spread. If that is the case, you will just have to do your best to alleviate any potential discomfort.

You also should be aware that opponents, who know that you and your friend(s) are playing in the same game, may be suspicious of potential or perceived collusion between the two (or more) of you. Your opponents may also have an issue if you are playing in the same game with someone who is either taking “a piece of your action” or fully staking you. It’s important, for your own integrity and the integrity of the game, to always play your hands hard, regardless of your friendship or financial arrangements.

When I have been in this position, I have made it clear to my opponents exactly which player in that game was staking me. Because of the potential added scrutiny, my sponsor and I also made sure that we played super hard against each other, even though it was a losing proposition for the sponsor.

If you perform well, you may be offered to be staked, or have someone want to take a piece of your action. This may or may not be good for you. There are many people who prefer playing strictly with their own money. They feel bad if they lose someone else’s money, and might even change their play (usually for the worse) because someone else has an interest in their results.

It can also be difficult to give up a portion of your winnings after a big winning session. Some people would rather play lower limits with their own bankroll, limited as it may be, as opposed to having an investor. They do not like the added pressure.

I have found, for me, that sponsorship has given me more opportunities.

If there is a great game at a higher limit (either a one-time deal or something more regular) but you don’t have the bankroll to play, a full or partial sponsor could enable you to play in these higher limit games. There will always be great higher limit games with bankroll requirements beyond your means, no matter how much money you have accumulated. If you can deal with the pressure, you can take advantage of these opportunities. I would not change my play because I am staked, and I would not feel bad if I lose a backer’s funds. He/she should not be staking you if he/she did not have the money to risk. If you feel that your potential backer cannot handle your losing, you should not accept the arrangement.

I would advise only getting involved with a sponsor who does not “micro-manage,” i.e., hover over you, question your strategy or results, etc. Unfortunately, many sponsors do this, and I would stay away from them. A backing arrangement is one of trust. You should trust your backer, and he/she should trust you. You each must be completely honest with each other; a poker player’s word is his bond. If you break your word, people will hear about it, and you will find it hard to ever be trusted again.

Next week we will continue on this topic, and cover different type of deals that are commonplace in the poker staking world.

In the meantime, you can find me in the $10/$20 and $30/$60 limit games in our Stud section, as well as in our weekly $215 buy-in tournaments. Please check the starting times of each of those events under Tourney > Special in the PokerStars lobby.

Feel free to contact me with any questions, suggestions or thoughts at adamr@pokerstars.com.
See you at the tables!

Feel free to contact me with any questions, suggestions or thoughts at adamr@pokerstars.com. See you at the tables!

by Adam "STUDstood" Roberts

I would like to continue discussing the concept of table and game demeanor.

Last week, I brought up the name Danny Robison, who I used to play a lot of high limit stud poker against. I considered him a great player, and one whom I also learned from.

When I say “learned from,” I do not only mean strategy while playing. I also mean his game persona and demeanor at the poker table.

I think it is important to learn from others, and even incorporate some of their habits. This not only applies to poker, but to virtually everything in life. But, since we are all individuals, we have to pick and choose what is best for ourselves. Our psyches and personalities have to be taken into consideration, as well as our physical makeup and the aura we give off to other people.

David Heyden was another excellent stud player during those years. Like Danny, David was a big winning player. But David was Danny’s antithesis in virtually every aspect, both on and off the poker table.

Whereas Danny was gregarious, slovenly, absent minded, and played “fast and loose,” David used to come into the poker room dressed in a suit and bowtie, with close-cropped salt and pepper hair, closely trimmed beard, and wearing horn-rimmed eyeglasses. While Danny would be chatting non-stop, David would rarely utter a word at the table.

Even their eating habits were different. Danny was overweight and ate like a vacuum. David was slim, and would eat salads, drink tea, etc.

All of their outward non-poker behavioral characteristics were reflected in their styles of play at the poker table.

Danny played a lot of hands, aggressively. David was much more selective, and was more of a check and call player. Because of his style, Danny would get much more in-hand action, as well as getting paid off on a lot of hands which his opponents would lay down against other good players. That was very profitable for him. Conversely, David would not get the same type of action, but he usually won the hands he played, and he was also able to bluff hands, which was profitable for him as well. Danny could rarely get away with a bluff (though he might talk you out of calling).

The bottom line is that both their completely different styles were profitable to them in different ways.

Another aspect of David’s play intrigued me. Many of us who competed in the casinos have people “sweat” us, sit behind us while playing. Or, we’d be involved in conversations about who knows what topic while in the poker game. Danny thrived on distractions – he created them to try to put his opponents off their games.

David never allowed himself to do that. He was “all business”, all the time.

This is a very important thing to be aware of, whether you are playing in a live casino or online. Distractions can rarely be good for you. They cause you to make mistakes, and mistakes are costly. While playing online gives you even more ways to distract yourself, i.e., television, internet surfing, telephone, family, etc., it is also much easier to avoid all of those things. In casinos, there is only so much you can do to block out discussions at the table, the lights, the noise, the TVs, the cocktail waitresses, etc., which are constant.

When you play online, you are completely in control of your environment, and have the ability to minimize distractions. I strongly recommend that you work in solitude, preferably in a room with some fresh air, that is well lit and quiet.

You should also invest in high speed and quality internet services, as well as a high level computer, whether it is a laptop or desk top. I also recommend using a wireless mouse. It is easier to click, which may lessen your mistakes. Just be sure to keep the batteries fresh!

I also have a 23”monitor swivel hinged on my wall directly above my 13” laptop computer. I use my monitor solely for online poker play. I split this screen into quads to enable me to play in up to three games concurrently and have the PokerStars lobby in the fourth quadrant. That way, I can keep an eye on what is going on in games that I am not in, without getting distracted from my own play.

Turn off your phones. If you need to speak on the phone or take care of online business, either take a break from the poker game or quit and come back to play when you are free of all other commitments and distractions.

Do not watch television or surf the internet while playing online poker.

The higher the stakes you play, the more important it is to have a backup internet connection, which is through an entirely different provider. There’s little more frustrating to an internet player than having their ISP go dead in the middle of a key hand or a tournament. Even short disconnections can be frustrating and distracting, so having a backup is great for your peace of mind.

Although you may be proud of your accomplishments as a poker player, and want to show off by letting family or friends watch you while playing, I recommend against it. The results can only be negative for you. Either you will make decisions that you normally would not because someone is watching, or you will get distracted while explaining your decisions. And of course you might find yourself getting involved in other discussions unrelated to the games. This recommendation applies regardless of what type of poker player you are, whether you are playing for fun, working as a professional or just trying to earn a little extra money.

As important as these things are, I also advise you to never let your poker playing interfere with other aspects of your life, whether professional, personal, or financial. This means that when you are out with family or friends in a venue completely outside of the poker world, do not start thinking about or discussing what happened in your last poker session.

And never take your poker frustrations out on other people.

Poker is a social game, and you may find that you develop lasting friendships. It’s just important to have some perspective on these relationships. In a sense, you’re not just judging your opponents on the table, but also off the table.

For example, I think that getting together with your poker peers to solely discuss poker play can be fun and potentially profitable. However, because this game is so “cutthroat,” many of our peers, who may also be good friends, do not want to discuss poker strategy because they do not want to give away their edge (perceived or otherwise) while playing against you.

Discussion with friends can be helpful, but I think honest self-analysis is vital to improving your play and results. I suggest analyzing your whole “poker package”, i.e., money management, table demeanor, etc., the concepts we have been covering in these blogs. To this day, after many years of playing professionally, I will analyze my play and specific hands after a session. Unfortunately, that too often happens at 3 AM in a nightmare…..just kidding.

Just as in other aspects of life, we have to hone our performance to enable us to reap the best results possible (monetarily and otherwise). We will continue on this topic nest week.

In the meantime, you can find me in the $10/$20 and $30/$60 limit games in our Stud section, as well as in our weekly $215 buy-in tournaments. Please check the starting times of each of those events for your geographic area under Tourney > Special in the PokerStars lobby.

Feel free to contact me with any questions, suggestions or thoughts at adamr@pokerstars.com. See you at the tables!

by Adam "STUDstood" Roberts

This week, I would like to cover the concept of game persona, both on and off the table.

When at the poker table, your game persona refers to how the other players feel about you, both personally and with regard to your playing ability. While this may include an assessment of your skills, many times it will also be affected by the aura you are giving off, intentionally or not. Some people, both in life and in poker, give off a certain type of energy which makes others form an immediate opinion about them. It’s important to be aware of your opponents and the persona they give off, and it’s equally important to be aware of the persona you are giving off to your opponents. To some extent, you can control your own persona, and how your opponents react to you.

This may work in your favor, or not. Poker is often a game of perception vs. reality, so you can find ways to make your persona work to your advantage. In my opinion, it is always prudent to make it look like you are "live,” always willing to give action, even if you play poker very well. That way, you get more action.

When I say “play poker very well”, I do not necessarily mean “very tight.” Tight play may limit your losses and make you an overall winning player, but it is the players who know how to play the most hands, with the highest skill, who are the biggest winners and the most dangerous players. These are the players who are
most able to take their opponents out of their “comfort zone.”

Sometimes they intentionally play this way in a certain situation, in order to confuse their opponents, but not always. Sometimes it is just their overall table persona. If you are able to pull this off, to give off a persona of an action player while playing solid, it can be extremely profitable.

This play can best be done by knowing the math and probability of each hand (which include real odds, pot odds, and implied odds), as well as being able to read your opponents’ cards and style, to anticipate what he/she will do either on his/her own or based on what your move is.

Over the years, I have seen many players (usually younger ones) attempt this style of play without actually understanding all the factors -- probability, statistics, and human concepts -- which must enter this equation. These players will inevitably fail. Sure, they might have had some short term success, which looks spectacular, but in the end, the math must catch up with them. Even if you do everything else correctly, on and off the table (i.e., bankroll and life management, which we’ve covered in previous blogs), if you do not play your cards optimally enough, often enough, eventually you must lose.

The biggest talents in poker are the players who understand all of these concepts but make their opponents feel that they don’t. They make their foes want to play against them because they look “live.” Some players are able to project the opposite image, of a powerful opponent, and make their opponents want to try and beat them, to say they beat “the best.” Many World Champions report that their opponents will take shots at them; they play badly in order to try to win a pot and have a story to tell. Tough opponents can also cause opponents to play poorly simply out of fear.

I have had the good fortune of having some great teachers during my poker career, especially when I was just getting started. One of them was a man named Danny Robison. For many years, Danny was considered the best Stud poker player in the world, and he revolutionized the wild style of play. Although it looked like he made a lot of “mistakes” , Danny’s play was head and shoulders above other excellent players.
Danny used a seemingly reckless style of play to earn a lot of money playing Stud, but he added an additional tool to his arsenal – “the gift of gab,” both during and between hands. He had an innate gift. Because of it, Danny could have been the consummate salesman or even CEO of a big corporation, had he not gotten into poker. But Danny used his gifts to help increase his poker earn, by getting his opponents to act in ways that increased his profit.

Danny could say things that would elicit a hug, whereas I could utter the same exact words and get punched in the face! He made his opponents happy to lose their money. This is a talent that cannot be learned; it’s a gift. I have seen people try it… and get punched in the face.

What I am getting at is that in addition to understanding and studying actual mathematics, statistics, and probability, there are other aspects to table behavior and demeanor which may enable you to help increase your poker earn. But you should also understand that attempting some of this behavior, if you don’t have the right skill set, may be costly to you in many different ways.

First, there is the money. Your swings will be larger playing a “fast and loose” style. Your decisions have to be “right” much more frequently when you play this way. Plus, when you are wrong in a decision, you tend to look bad, which emboldens your opponents. That may work against you, compounding your losses when you are “running bad.” It may also embarrass you. Can you handle that?

When I give private lessons, sometimes I have taught students some more “advanced” concepts, which they loved and wanted to apply them immediately. Knowing these concepts is good, but applying them correctly is very difficult. Inevitably, they try them in the wrong situations. Or even when they recognize the right situations, they do not have the “heart” to incorporate them into their arsenal.

I remember when I proudly told Danny that I was ready to “play like him.” He put his arm on my shoulder and said “Son, I am sorry to hear that.” When I asked him why, he replied that the only two people who ever told him that either committed suicide or were in a mental institution. I did my research and found that to be true!

Luckily, neither has happened to me… yet.

What I am getting at here is that there are many different ways to be successful, both in life and poker. I have seen equally great players use different styles in certain hands, and make them all work. You need to find what works for you. Don’t try to be someone you are not. Study the math, probability, and statistics. Study your opponents. Pay attention to everything around you in the poker room, on and off the table. Try things out, carefully, and build up your skills and courage. Find the “game persona” that works for you, maximizing your earn. Keep your opponents guessing.

Next week we will continue on this subject, and delve into concepts such as game preparation, avoiding distractions on and off the poker table, etc.

In the meantime, you can find me in the $10/$20 and $30/$60 limit games in our Stud section, as well as in our weekly $215 buy-in tournaments. Please check the starting times of each of those events for your geographic area under Tourney > Special in the PokerStars lobby.

Feel free to contact me with any questions, suggestions or thoughts at adamr@pokerstars.com. See you at the tables!

by Adam "STUDstood" Roberts

I have been getting some positive feedback with regards to this game selection topic so I would like to continue with it.

In addition to what we have already covered, other factors should be paid attention to when choosing which game(s) to compete in.

Do you prefer playing heads-up or short-handed?

There are many opportunities to do this, especially online. If and when the game you’re in fills up, quitting it and either joining a different short-handed game, or starting a heads-up game with someone else should not a problem, especially if you are able to play different game types and limits.

Does your playing style suit itself to heads-up, short-handed, or full games?

This is something only you will be able to determine, either by feel or results. Just remember that the “speed of the game” (both in actual hands dealt and the style of play), as well as the value of hands, differ as the amount of players in the game changes. One thing you do have to take into consideration is that heads-up and short-handed games may break down at a moment’s notice. If you are either stuck money in that game or on a positive “rush,”, you may not want that to happen. With full games, you can usually see when a game is in a precarious position to break down and then be able to act accordingly.

You usually have the option to start a short-handed game.

This way, you can get the seat you enjoy being in. This also may be prudent if you know that a certain “live one” is going to show up; your game is already going and will have open seats when this player arrives.

If you enjoy playing in multiple games online, it may be hard to play in short-handed or heads-up tables.

The concentration needed to play short games is tremendous, as opposed to playing in full games. Some people thrive on this, but others just can’t keep up. The type of game plays a part in this, too. For instance, although Stud is my best game, it is very hard for me to play in two Stud games at the same time, as opposed to Stud Hi/Lo or Razz, which take less concentration because of the style and structure of the game. In all of those games, there is also a premium on remembering the exposed cards, and the more Stud-style tables you play, the more difficult this is to do. Hold’em (whether limit, pot limit, or no limit) is better for playing in more games because remembering cards on each hand is not necessary.

Some players enjoy jumping from game to game, based on who is in the game at a given moment.

I try not to jump games just to seek out one player. You never know when that player is going to quit, who is going to join the game you just left, etc. I generally stay in the same game (or multiple games if I am online), because they are the most profitable for me. I know most of the regular players, and I have invested some time and energy in getting the feel for that particular game; every table change is like starting over. Plus, you never know who may show up.

If you know when your favorite game usually begins and ends, you may want to adjust your schedule to allow you to get in the most hours in that game.

This will sometimes be possible, and when it is, can help your profitability.

Do not berate the “live players”. In fact, try to be even nicer to them.

We covered this issue in a previous blog, but I want to reiterate it. Selecting a good game has little value if you yourself turn it into a bad one. Whether you are a professional or not, there is nothing a winning player can do that is worse than making a losing player feel uncomfortable, leading to him/her to either try and play better (to avoid being criticized or abused) or to quit your game completely. I will cover “game persona,” “table demeanor “and “gamesmanship” more in my next blog.

Try to not let your ego get in the way of who you are competing against

.

You may want to try and play against the “best of the best,” even though you don’t have an edge in that spot. This is okay is if you are only playing poker for enjoyment. Playing with better players might help you improve your game (by watching their strategy at the table), but it will probably not be profitable, and if you are playing to win, you should avoid playing with better players.

On the flip side, although you do want to play with inferior players, you should be sure that your game strategy against them does not become “personal,” where your own solid play veers off-line because of their poor play. Bad play and bad beats can put some people on tilt – don’t let it bother you.

Thank you for reading my blogs, and for your feedback.

You can find me in the $10/$20 and $30/$60 limit games in our Stud section, as well as in our weekly $215 buy-in tournaments. Please check the starting times of each of those events for your geographic area under Tourney > Special in the PokerStars lobby.

Feel free to contact me with any questions, suggestions or thoughts at adamr@pokerstars.com. See you at the tables!